Watch List notes:

Nicholas I (1825-1855), Poltina, 1826, St. Petersburg, Nikolai Grachev, crowned double-headed eagle, 'wings down', rev. crowned value in wreath, incuse edge lettering, 10.40g, 12h (Sev. 2894; Uzd. 1502; Diakov 8; Bitkin 113), some faint hairlines in otherwise lustrous fields, a pleasingly bold extremely fine, very rare

provenance
Kunker 271, 4 February 2016, lot 811